BOI RD Calculator: Calculate Bank of India Recurring Deposit Returns
Calculate your Bank of India Recurring Deposit maturity amount instantly. Enter your monthly deposit, interest rate, and tenure to see how much your RD will grow.
A Recurring Deposit (RD) is a savings instrument offered by banks where you invest a fixed amount every month for a predetermined tenure. At maturity, you receive the total invested amount along with the accumulated interest. RDs are ideal for salaried individuals who want to build a savings habit without needing a large lump sum upfront.
Bank of India offers competitive RD interest rates ranging from 5.50% to 6.50% p.a. for general customers and up to 7.00% p.a. for senior citizens, making it a solid choice for systematic savings.
How Does a BOI RD Calculator Help?
The BOI RD Calculator is a free online tool that helps you estimate the maturity amount and total interest earned on your Bank of India recurring deposit. It eliminates the need for complex manual calculations by instantly computing your returns based on your monthly deposit, interest rate, and tenure.
Plan your savings: Know exactly how much your monthly contributions will grow to at maturity
Compare tenures: See how different investment periods affect your total returns
Estimate interest: Understand the interest component separately from your invested amount
Make informed decisions: Compare BOI RD returns with other banks before committing
About Bank of India RD
Bank of India (BOI) is one of India's leading public sector banks, established in 1906. With over 5,000 branches across India, BOI offers recurring deposits with attractive interest rates and flexible tenures. BOI RDs are backed by the safety of a government-owned bank, and all deposits are insured up to ₹5 lakh by DICGC, a subsidiary of RBI.
BOI offers RD tenures ranging from 1 year to 10 years with a minimum monthly deposit of just ₹100. Interest is compounded quarterly, and senior citizens enjoy an additional 0.50% interest rate on their RDs.
How to Use the BOI RD Calculator
Using the BOI RD calculator is simple and takes just a few seconds:
Step 1: Enter the monthly investment amount you wish to deposit (₹100 to ₹1,00,000)
Step 2: Enter the annual interest rate (pre-filled at 6.50% for BOI)
Step 3: Select the tenure (investment period) in years
The calculator will instantly display your total investment, interest earned, and maturity amount along with a visual donut chart showing the breakdown.
Benefits of BOI Recurring Deposits
Low minimum deposit: Start with as little as ₹100 per month
Guaranteed returns: Interest rate is fixed for the entire tenure, unaffected by market fluctuations
DICGC insurance: All deposits insured up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation
Flexible tenure: Choose from 1 year to 10 years based on your financial goals
Senior citizen benefits: Additional 0.50% interest rate for senior citizens
Loan facility: Avail loans against your RD without breaking the deposit
Auto-debit: Set up auto-debit from your BOI savings account for hassle-free monthly deposits
Why Choose Bank of India for RD?
Bank of India is a trusted public sector bank with a heritage of over 115 years. Here are key reasons to choose BOI for your recurring deposit:
Government-backed: As a public sector bank, BOI offers unmatched safety for your deposits
Wide network: Over 5,000 branches across India for easy access
Digital banking: Open and manage RDs through BOI's internet and mobile banking platforms
Competitive rates: Interest rates up to 6.50% for general customers and 7.00% for senior citizens
Nomination facility: Nominate a beneficiary for added security
Book RDs up to 8.10% on Y1 Money — Y1 Money partners with RBI-regulated banks to offer high-interest recurring deposits. Book an RD in under 2 minutes, no new bank account needed. All deposits insured up to ₹5 lakh by DICGC.
Frequently Asked Questions
Bank of India offers RD interest rates ranging from 5.50% to 6.50% p.a. for general customers in 2026. Senior citizens receive an additional 0.50% p.a., taking their rates up to 7.00% p.a. Rates vary based on the tenure of the deposit.
The minimum monthly deposit for a Bank of India recurring deposit is ₹100. There is no maximum limit, though higher deposits may be subject to TDS if the annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
BOI RD interest is compounded quarterly. Each monthly installment earns compound interest from the date of deposit until maturity. The maturity amount is the sum of the future values of all monthly installments calculated using the compound interest formula.
Yes, premature withdrawal of BOI RD is allowed, but a penalty of 1% is usually charged on the applicable interest rate. The interest will be recalculated at the rate applicable for the period the deposit was held, minus the penalty.
Yes, interest earned on BOI recurring deposits is taxable under "Income from Other Sources." TDS at 10% is deducted if the total interest in a financial year exceeds ₹40,000 (₹50,000 for senior citizens). You can submit Form 15G/15H to avoid TDS if your income is below the taxable limit.
Yes, you can open a BOI recurring deposit through Bank of India's internet banking or mobile banking app. You can also open an RD through Y1 Money, which partners with RBI-regulated banks to offer seamless RD booking in under 2 minutes.
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